Six New Yorkers, Including Mayor, Among Nation’s Most Generous
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Six of the top 60 donors in America, including Mayor Bloomberg, are from New York, according to an annual survey published by the Chronicle of Philanthropy and by Slate, the online magazine.
The New York philanthropists made their fortunes in the liquor industry, financial information, real estate, investments, and diet advice. Two made $100 million donations to universities outside New York, and two made $25 million donations to institutions near and dear to New Yorkers: the New York Public Library and Baruch College of the City University of New York.
Asked what it felt like to be included on a list with William and Melinda Gates and Robert Edward (Ted) Turner, the Baruch benefactor, William Newman, said: “very fortunate.” The donation by Mr. Newman, who made his fortune in commercial real estate, and his wife, Anita, to his alma mater was the largest cash gift a CUNY college had ever received.
Mr. Bloomberg supported a wide range of charities in the arts, education, health care, and social services. He plans to disclose a list of specific organizations in June, Slate reported. He is the only New Yorker on the list for 2004 to have made a previous appearance on the list, in 1998.
In total, the 60 donors contributed $10.1 billion to charities and foundations last year, a 41% increase over the total for 2003. The top two donors on the new list were responsible for more than half the total amount. William and Melinda Gates gave $3.4 billion to their foundation, and the late wife of Warren Buffett, Susan Buffett, left $2.6 billion to several Buffett family foundations.
Other well-known names on the survey are Ted Turner (no. 19) and Oprah Winfrey (no. 24), but the list is spare of household names. Technology, investments, and family wealth are the leading sources of donors’ wealth.
The highest-ranked New Yorker, no. 9, is octogenarian liquor mogul Sidney Frank of New Rochelle, who donated $100 million to Brown University – from which he dropped out after a year because he couldn’t afford tuition. He made his fortune selling Grey Goose vodka and Jagermeister.
A New York City developer, Stephen Ross, at no. 13, made a $100 million pledge to the University of Michigan’s business school, which is being renamed the Stephen M. Ross School of Business. It was the largest donation ever to an American business school and the largest gift to the University of Michigan in its 187-year history.
His eye is on New York, too. Along with his partners in the Time Warner Center, Mr. Ross contributed $60 million toward the construction of Jazz at Lincoln Center’s new home. He also serves on the executive committee of NYC2012 and is a trustee of the Solomon R. Guggenheim Museum.
An investor, Robert W. Wilson, bucked the trend of giving to universities.
“I stopped supporting my alma mater and I don’t give any money to higher education,” the Amherst College alumnus told The New York Sun. He gave $25 million to the New York Public Library “because it’s an organization that helps people learn,” he said, “not a place people go to for degrees they think they need to get jobs.”
Other institutions Mr. Wilson supported, for a total of $41.7 million in pledges and gifts, were the Whitney Museum of American Art and the World Monuments Fund, putting him at no. 29 on the list.
The other New Yorker on the list, at no. 31, was a diet guru, Robert Atkins, who died in April 2003. His healthcare foundation, based in Jenkintown, Pa., received a $40 million bequest from his estate.
Dropping off the list this year were Sanford and Joan Weill, who gave $144 million over three years. Other prominent New Yorkers who have appeared on the list in the past include Maurice and Corinne Greenberg, Samuel Heyman, Leonard and Louise Riggio, and Julian and Josie Robertson.
Meanwhile in Washington, nonprofit institutions’ leaders delivered a report to the Senate Finance Committee aimed at restoring public confidence in the sector, which has declined as stories of abuses have made headlines.
The report was issued by a panel convened by the Independent Sector, an association of more than 500 nonprofit organizations across the country. Among its suggestions were mandatory independent audits for nonprofit groups with more than $2 million in revenue and mandatory electronic filing of the Internal Revenue Service Form 990, as well as increased funds for oversight by the IRS.